Mayor Daley wants a fiscal guarantee for the Games

I think we all saw this coming.

Since 1984, no city has ever won the Olympic Games without giving the IOC (International Olympic Committee) a fiscal guarantee against any deficit. After telling us for months that the taxpayers would not be responsible for any Olympics-related expenses (while spending $60 million to put the bid in place), the mayor says Chicago won't win the Games without a fiscal guarantee.

Chicago's bid could turn on this issue. The only drawbacks at this point are the missing guarantee and the city's pathetic public transit system. With the president so popular worldwide and the competition being so light, the Games are Chicago's to lose. As Mayor Daley pointed out, the IOC would need to violate its own policy to award the Games to Chicago without a guarantee.

If the City Council decides to add the guarantee to Chicago's bid, I believe the IOC will award the Games to Chicago. I hope there's enough of a public outcry that the City Council will not do so.